As a small to midsize business, you don’t have time to waste on cumbersome processes. At the speed business moves today, you can't let a bottleneck like traditional contracting slow down your sales cycle and impact revenue. In this post, we'll outline the modern signing methods now available for you to send to customers and reduce the amount of time between opportunity and close.
Every successful business makes a series of decisions at some point on how more efficiently deliver goods and services and experiences to customers, employees, and partners. Many of these decisions, however, are driven not by the needs of the customer, but by compliance, legal, IT, or because they've always been done that way. That's how the use of documents, paper, or other old school processes have kept companies in the dark ages when advances in automation and integration are available to help you re-think what you're currently doing today.
For example, take a midsize company that caters to restaurant or hospitality professionals and conducts most of their business over the phone. This company has the capability to do high volumes of business, but there is always a bottleneck at the bottom of the sales funnel. Traditional contracting is bound to slow down their sales cycle and impact revenue. However, the goal is sales velocity. (Click to tweet)
In order to be competitive, they need to upgrade their traditional, manual processes to modern, self-service method.
More and more B2B companies are moving towards a self-service model. Download our guide: How to Get on the Self-Service Bus Before It's Too Late
The cost of “one more step”
Making your customers take extra steps is negatively affecting your sales cycle. According to a Salesforce study, if they find the purchasing process too difficult, 74% of customers are more likely to switch brands.
For example, if your sales team sends PDF contracts via emails, that’s two extra steps you are making them complete before the sale is final. SaaS companies that serve industries in which the professionals aren’t chained to a desk will have a harder time closing deals using this method.
This is because it requires use of a desktop, and one Statista study showed that 52.2% of all global website traffic was generated through mobile devices. Even more, as of January 2018, there are 3.7 billion unique users.
These statistics make it clear that the key to shortening your sales cycle is adopting mobile-friendly contracts.
Meet your customers where they are
To paraphrase Salesforce, the “right now” economy is driving mobile-first expectations. As a result, in order to get customers to sign more and more quickly, send them contracts through chat, over the phone, or using your Salesforce account. Using PactSafe’s modern signing methods, you can do all three.
Many B2B and B2C customers are familiar with and/or use Slack or Intercom in their respective lines of work daily. PactSafe’s chat-to-sign allows you to send a contract over Slack or Intercom and allows them to read, review, and accept.
Also, given the prevalence of mobile phones, it would be really easy to push a contract via SMS. PactSafe’s text-to-sign is a contract that is sent and signed with a text message by simply having the end user reply, “Agree.”
Customers can install PactSafe’s Salesforce integration into their own Salesforce environment and easily connect to their PactSafe account. Inside the PactSafe for Salesforce app, customers can connect to all of their PactSafe contract templates and easily send them for acceptance from a Salesforce Opportunity, Account, or Contact.
These modern signing methods can allow you to send contracts to your customers exactly wherever they are. You reduce the amount of time between opportunity and close, significantly freeing up the end of the sales cycle and improving your customer experience. There is no reason to negatively impact your sales velocity when PactSafe’s API-first, integration-friendly platform can help your business to move at a competitive pace.